California ranked #50 out of all 50 states. The state earned the title as the least entrepreneur friendly state due to having some of the highest taxes in the US, along with a high level of government debt. The study did mention California has the lowest unemployment tax.
New Jersey ranked #49 in the study due to the second highest property taxes in the country and a high capital gains tax.
Vermont ranked number #48 on friendliness to entrepreneurs. High taxes on personal income, capital gains, and a death tax were cited as reasons. Also, a high minimum wage and high property taxes contributed to this rating.
New York ranked #47 in the study due to such factors as a high diesel tax, high electricity costs, an excessively high number of health insurance mandates and the highest gas tax in the country.
Maine ranked #46 due to high taxes, a high minimum wage, and high taxes on personal income and dividends.